Corn oil and fractions market in MENA

Earlier Report Observations

The corn oil market in the MENA region contracted significantly from 2018 to 2020, with volume falling from 356.6 thousand tons to 263.9 thousand tons. This initial decline was influenced by slow financial adjustment and weak growth prospects across the region, which dampened overall demand for edible oils. The downward trend continued into 2020, further reducing market size.

A recovery occurred in 2021, lifting the market volume to 312.8 thousand tons. This growth was supported by increased fruit and vegetable production in North Africa, which raised agricultural demand for associated vegetable oils like corn oil. However, in 2022, high regional inflation reaching 13.9% increased production costs and reduced consumer purchasing power, causing the market to shrink again to 270.7 thousand tons. By 2023, the market stabilized at 261.6 thousand tons.

Domestic production of corn oil showed consistent growth throughout the period, rising from 13.7 thousand tons in 2018 to 16.9 thousand tons in 2023. This expansion aligns with a broader regional trend of rising health awareness and growing demand for high-quality vegetable oils in the food and bakery sectors, as noted in later industry developments.

Production corn oil and fractions in MENA

In kind, 2017-2020, t

Top producers of corn oil and fractions, 2017-2020

World map of production of corn oil and fractions, 2017-2020

MENA's corn oil and fractions production increased for the second consecutive year. In 2020, production reached 13 974 tonnes, showing minimal change from the 13 747 tonnes recorded in 2019. The lowest production level was observed in 2018 at 13 747 tonnes, which represented a 0.7% decline from the previous year. In contrast, 2019 saw the largest increase of 1.4%.

Annual dynamics of production in MENA in kind, 2017-2020, t

Exports corn oil and fractions from MENA

Exports in kind, K t

The data reveals irregular changes, indicating a volatile market environment. The minimum export volume was recorded in 2018 at 39.4 thousand tonnes, while the peak occurred in 2017, showing a 2.5-fold difference between these years. In 2020, cross-border shipments of corn oil and fractions from MENA totalled 58.7 thousand tonnes, marking a steep decline of 36.5% from the previous year. The largest decline was recorded in 2018 at 60.1%, whereas 2019 experienced the most significant increase of 135.0%.

Annual dynamics of product's exports from MENA in kind, 2017-2020, K t

From 2017 to 2020, Somalia, Pakistan, and Kenya were the top buyers of corn oil and fractions from MENA. Somalia accounted for 5.0% of exports in kind, Pakistan for 1.3%, and Kenya for 0.9%. Together, these three countries represented 7.2% of total exports in kind during this period.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from MENA in kind, 2017-2020

Exports in value, M $ US

Cross-border shipments of corn oil and fractions from MENA declined for the third consecutive year. In 2020, exports amounted to 121.7 million US dollars, reflecting a 13.2% decrease from 2019. Over the period from 2017 to 2020, exports fell by 42.8%, with a compound annual growth rate (CAGR) of -17.0%.

Annual dynamics of product's exports from MENA in value, 2017-2020, M $ US

From 2017 to 2020, Somalia, Pakistan, and Kenya remained the principal buyers of corn oil and fractions from MENA in value terms. Somalia contributed 3.0% of exports in value, Pakistan 1.3%, and Kenya 0.6%. Collectively, these three countries accounted for 4.9% of total exports in value during this timeframe.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from MENA in value, 2017-2020

Imports corn oil and fractions to MENA

Imports in kind, K t

Foreign corn oil and fractions supplies to MENA declined for the third consecutive year. In 2020, imports stood at 308.7 thousand tonnes, representing a strong reduction of 18.0% compared to the previous year. Between 2017 and 2020, imports decreased by 26.1%, equating to an annualized rate of -9.6%.

Annual dynamics of product's imports to MENA in kind, 2017-2020, K t

From 2017 to 2020, the United States, Turkey, and Brazil consistently remained the main sources for imports in kind. The United States accounted for 46.9% of imports in kind, Turkey for 9.2%, and Brazil for 5.1%. Together, these three countries made up 61.2% of total import flows during this period.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to MENA in kind, 2017-2020

Imports in value, M $ US

Cross-border shipments of corn oil and fractions to MENA declined for the third consecutive year. In 2020, MENA imported a total of 355.9 million US dollars of corn oil and fractions, which is 7.7% lower than the previous year. Between 2017 and 2020, imports decreased by 36.3%, equating to an annualized rate of -13.9%.

Annual dynamics of product's imports to MENA in value, 2017-2020, M $ US

From 2017 to 2020, the United States, Turkey, and Spain consistently remained the main destinations for imports in value terms. The United States accounted for 41.9% of imports in value, Turkey for 9.8%, and Spain for 4.9%. Collectively, these three countries represented 56.6% of total import flows during this timeframe.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to MENA in value, 2017-2020